10:09 AM EST, 03/06/2024 (MT Newswires) -- Enbridge Inc. ( ENB ) outlined Wednesday its strategic priorities and financial outlook as the company hosts an investor conference today in New York.

Enbridge ( ENB ) extended its average annual growth rate through 2026 of 7%-9% for adjusted EBITDA, 4%-6% for EPS and 3% for distributable cash flow (DCF) per share.

The company also reaffirmed its average annual growth rate of 5% post 2026 for adjusted EBITDA, DCF per share and adjusted EPS.

In addition, Enbridge ( ENB ) reaffirmed its EBITDA and DCF per share guidance for 2024.

Enbridge ( ENB ) said its acquisitions of US gas utilities announced in September 2023 are expected to close at different times during 2024 and are not included in its 2024 financial guidance.

The company also plans to invest about $3 billion annually in low-risk natural gas utility infrastructure, inclusive of the assumed capital for its acquisitions.

"At Enbridge ( ENB ), we're building out our integrated infrastructure super systems, to enable the continued delivery of energy in a planet-friendly way, everywhere people need it," President and CEO Greg Ebel said.

Enbridge ( ENB ) at last look gained 0.9% on the TSX and rose 1.4% on the NYSE in early Wednesday trading.

Meanwhile, National Bank of Canada said Enbridge's ( ENB ) newly announced investments support Enbridge's ( ENB ) strategy to make its US Gulf Coast strategy a key part of its long-term growth profile.

The bank continued to highlight Enbridge's ( ENB ) robust growth profile driven by its $25 billion secured growth backlog, as the company lives within its 4.5-5.0x D/EBITDA target range with a targeted annual investment of $6 billion to $7 billion.

National Bank expects modest changes to its long-term estimates for Enbridge ( ENB ) following the company's presentation.

The bank gave Enbridge ( ENB ) a sector perform rating with a $51.00 price target.

Price: 47.77, Change: +0.48, Percent Change: +1.02